The Brent Oil rallied in the last two days and reached the 58.64 level, but failed to stay there. Price increased today and tries to climb towards the yesterday’s high, but the bulls seem exhausted. The near-term upside targets will be at the upside line of the up channel and at the 59.50 previous high. A failure to reach these levels will signal a minor retreat, while a drop below the 57.72 level and below the ML will confirm a larger drop.
